o It! Review 10-1a ou and several classmates are studying for the next accounting examination. They ask you to answer the following questions: ? If cash is borrowed on a $62,400. 1 1-month, 10% note on Auguqt 1, how much interest expense would be incurred by December 31? 2 The cash register total including sales taxes is S44, 730, and the sales tax rate is 5%, what is the sales taxes payable, If $44,730 is collected in advance on November 1 for 7-month magazine subscriptions, what amount of subscription revenue should be recognized on December 31? 3